La gravure du catalogue Porst de 1952 montre un appareil qui n'a apparemment jamais existé, tout au moins sous cette forme, ou qui est rare. McKeown en parle sans le montrer.
Le Rapid de son nom ne désigne pas le format de la cartouche de film, mais l'existence d'un levier d'armement rapide, en lieu et place des habituels boutons-molettes.

Ce levier est partout décrit comme étant situé à main gauche sur les premiers exemplaires de l'Iloca Rapid. Sur la gravure, le levier semble être à main droite, alors que sur les gravures des années suivantes il sera bien à gauche.

La gravure montre un second viseur qui d'après le texte de présentation permettrait d'éviter les erreurs de parallaxe. Cette caractéristique n'apparaît pas sur les Rapid suivants.

The company Iloca Kamera-Werk has its origins in another company established in Hamburg under the name Ilca in the late 1940s, but it was quickly taken over around 1949 by Wilhelm Witt, who led it to a certain level of success that unfortunately didn't last.
It only produced cameras under the name Iloca from the early 1950s until 1959 (bankruptcy in the spring of 1960). It is best known for its stereo cameras. The majority of its production was aimed at exports, especially to the United States. For exports to the USA, Iloca products were sometimes rebranded with different names (such as the  Realist ST-45). Alternatively, the company partnered with importers/manufacturers like Tower (Sears, Roebuck and Co.), Photrix (Montgomery Ward), Argus (Argus Inc.), and even Graflex (Graflex Inc.).
It's interesting to note that the company's bankruptcy was the result of a battle among giants in the emerging German industry, which took the form of a refusal to supply new automatic shutters that Iloca was seeking from Friedrich Deckel in Munich. Iloca may have fallen victim to a clash between the Zeiss Ikon group and the one that owned Voigtländer over the acquisition of these new automatic shutters. Iloca, it is said, was ready with next-generation products, but none of the major groups seemed to favor this, possibly pressuring Friedrich Deckel not to deliver 3,000 advanced shutters, which forced W. Witt's company to go out of business.
(source: Die Zeit, April 8, 1960).

Another reason for the company's bankruptcy, as developed by Wilhelm Witt, may have been the excessive focus on stereo cameras. The resurgence of stereo photography in the post-World War II era was short-lived, and it cannot be ruled out that the system developed around the View-Master may have adversely affected traditional stereo photography on 35mm film.
However, before disappearing, Iloca introduced a sophisticated camera to the market, the Iloca Electric, a large 24x36 motorized camera, the first of its kind, which sold well in the USA.